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to this meeting? harry reid was sounding pessimistic early in the day. then john boehner calling the house back sunday evening with a vote scheduled after 6:00 p.m., setting up a late sunday session or a lot of fireworks on monday. guest: the redskins-cowboys game is on sunday night. each side staked out a public position it had to stake out. use it at the end there's a sentence saying, but we will talk or negotiate. nothing unusual here to me. i think right now they are doing what they have to do publicly. we do not know what those people in the room at the white house are going to say and that is the key. host: the speaker will attend this meeting. he said the house has passed legislation to avert the fiscal cliff. now the senate must act. senator reid said it is up to the house. explain what is going on. guest: i cannot read john boehner's mind. let's say the senate takes up something where you extend all the rates for a year but you increase the rates for people making $500,000. let's say that passes the senate. 75 votes. they sent it to the house. are republicans in the house going to be t
, harry reid and mitch mcconnell. can they make a deal or can they do their jobs or is this just more political drama? >> we want an agreement. >> the count down is midnight. the start of a new year. >> we are going over the cliff because frankly i believe it's what the president wants. >> the american people are waiting for the ball to drop, but it's not going to be a good drop. >> but we have no takers. >> every republican, every democrat ought to be here. >> the phone never raining. >> they should negotiate a plan. they shouldn't have the mine are in plan, they should have the biglan. >> here we are five days from the new year, and we might finally start talking. >> the republicans are sitting there with a nuclear weapon. they have the debt ceiling coming up. they can use that as part of this negotiation. >> what is going on here? >> the president called me and probably called others last night. my impression is he would like to see if we can move forward. >> you can't legislate with yourself. >> the breaking news of the moment is that the house republican leadership is calling its
connell is at the capitol and assuming he's in contact with harry reid and their staffs are going back and forth. the question has been every single day we've been into these negotiations. what is the threshold that republicans are willing to take to avert the fiscal cliff. there's their 400,000. so everyone who makes $400,000 their taxes would stay the same. would that be acceptable. if there is no deal to be reached we do know that harry reid will try to move forward on monday with the bill for those making $250,000 or below. so that's what we need to see how it will work there. there are types of sweeteners they can do. mitch mcconnell is a tough place and this is the underreported part of the story. he has to figure out a deal that gets through the senate and doesn't make john boehner look too bad in the house and there are a lot of conservatives in the house that don't want to do any type of deal that would raise taxes on anybody even though they'll go up on the entire country the first tax hike in 20 years after monday night. >> and one would also assume that mitch mcconnell would have to
's court. harry reid tossed it right back. are we looking at another lost day in the negotiations? hitching a right on air force one, the new senator from hawaii and it's not what we expected it to be. here we go again. the president in washington and another deadline. secretary geithner warns we will hit the debt ceiling even before we tumble over the fiscal cliff. good morning from washington. it is thursday, december 27th. this is "the daily rundown." i'm luke russert. two days after christmas and washington is back to work trying to harsh out a deal to avoid the fiscal cliff. the senate will get back from the session after holiday break. the president is expected to arrive back to the white house without his family to get back to twork mework to meet the loo deadline. mike is at the white house. let's start with you. the consensus around the hill is that we are more likely than not to go over the fiscal cliff, but there is a small chance harry reid could take a house pass bill and amend it and send it back over to the house. what are you hear being that? >> conceivably, but when the pre
assume harry reid is here and their staffs are going back and forth. i spoke to one aide who said don't expect for any details to leak tonight. they'll be closed-lipped about this because the idea if anything does leak out it gives more of an opportunity for folks on either party to kill a deal if they don't like what they hear. some sort of a agreement will be announced tomorrow when the house is back in session and the senate is back in session and they can go back to say hey, this is the best opportunity. as far as the likelihood of this kraig, things have not been going well and there's optimism here and there and things are fluid like kristen says and it will be the final deal, but what we do know is these folks on capitol hill are very mindful of the damage that can be done to the economy if nothing is brief. we've had five down days in the stock market and we're preparing the country on tuesday for the first tax increase in 20 years, and i think finally at the end, that's starting to resonate at least with some of the elder members of both sides hence why we're even here on a s
connell, and harry reid to the white house this afternoon for a fiscal cliff summit. >> here we are five days from the new year, and we might finally start talking. >> today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chamber of commerce. >> i don't know time wise how it can happen now. >> under senate rules, the only way a bill could make its way through the procedural hurdles in time is if every senator agrees not to. they'll have 24 hours. outside the beltway, carlino will be watching. >> everyone is kind of in a wait-and-see and fingers-crossed per expect tichb right now. >> since 1930 this is only the fifth time congress has worked after christmas. and today's summit is the first time president obama has met face to face with congressional leaders since mid-november. duarte, tick tock. >> thank you. >>> general schwarzkopf is being remembered this morning as a great hero and tactician. as teresa garcia the general died yesterday at his home in tampa from complications related to pneumonia. >> repo
've yet to receive a response to our good faith offer. >> democratic leader harry reid said the gulf over taxes was still too wide, and he indicated the white house might be tying his hands. >> i've had a number of conversations with the president, and at this stage, we're not able to make a counteroffer. >> reporter: so senator mcconnell called the vice president, who he served with in the senate for 24 years. the two men spoke several times sunday. >> i want everyone to know i'm willing to get this done, but i need a dance partner. >> reporter: democrats want to let the bush-era tax cuts expire for all household incomes over $250,000 a year. republicans would rather set the cutoff at around $500,000 or keep the tax cuts in place for everyone. the two sides are also at odds over the estate tax rate which currently stands at 35% but is set to revert to 55%. even if senate leaders do strike a deal and pass a bill today, it would still need to go up for a vote in the house, but at this point, many members are just hoping their leaders can come up with something if only
being sent up to the hill today. harry reid, the senate majority leader, also denied that any such thing was taking place today. both of those denials do also come against the backdrop of the fact both sides acknowledged this is not something they plan to litigate in public and underscores the real challenges that do exist, craig, now with barely 100 hours until the fiscal cliff deadline. two sides made it very clear. john boehner couldn't pass with house republicans the idea of raising taxes only on those making more than a million dollars. the president has insisted throughout that $250,000 had been his limit. it's bumped up to $400,000. but even when they were within just a couple hundred billion dollars, which seems like a lot to you and me but it is not a lot in the language of washington, then they went opposite directions an enwhere the political particular sis stands at this moment. >> all right. peter and alexander, thank you good sir. joining me now karen bass of california. congresswoman, good to see you and nice to see you there from the capitol. you are still in california b
it does, the senate majority leader harry reid is expected to weigh in, in just about ten minutes on the looming fiscal cliff. reid and his fellow senators are under intense scrutiny after john boehner said the democratic controlled senate must act first on proposals already passed by his chamber. we will bring you reid's remarks as they happen. >>> as the clock ticks down toward the fiscal cliff, washington has a new worry the debt ceiling, treasury secretary tim geithner says the united states will hit its legal borrowing limit on monday. alison kosik is in new york. i feel like it's groundhog day. >> i know it really is. what's old is new again, right, carol? let me kind of back up the bus here. we start talking about the debt ceiling and i know people's eyes glaze over. let me tell you exactly what the debt ceiling is. it's a cap set by congress of the amount of money the federal government can borrow. right now the ceiling is at $16.394 trillion and treasury secretary tim geithner said earlier this week we could hit that debt ceiling on monday, on new year's eve and the treas
saw yesterday senate majority leader harry reid basically accusing john boehner of running a deck tate toreship, that was his word in the house of representatives. reid piled on a little bit late yesterday afternoon and senate republican leader mitch mcconnell responded. take a listen. >> speaker boehner should call members of the house back to washington today. he shouldn't have let them two in fact. they're not here. they're not here. john boehner seeps to care more about keeping his speakership than about keeping the nation on firm financial footing. >> reporter: there have been all eyes on senator mitch mcconnell, the republican leader, the counterpart to harry reid because he has been pretty quiet early on in the negotiations. was defering speaker boehner to give the republican side. after hearing senator reid yesterday, senator mcconnell fired back. take a listen. >> we're coming up against a hard deadline here and i said, this is a conversation we should had months ago. and republicans aren't about to write a blank check for anything senate democrats put forward just because we
question this. that negotiations between harry reid and mitch mcconnell suffered a major setback after republicans demanded the inclusion of a new method for calculating benefits for the package. change came from progressives to result in lower payments. part of the current negotiations on the scale down deal, they say that they gave ground on other issues, including raising the tax threshold, as well as -- that was from two hours ago. sheila jackson mentioned the change that she objects to, she and other outside democrats and house progressives in particular. don is on the democrat's line. go ahead with your comments. caller: i am an old disabled veteran. i love this country so much. i cannot understand for the life of me what our government is trying to do with the bickering and tearing each other down, tearing the country down. why in the world can these supposedly intelligent groups of men and women not get together to work out for the best interest of all concerned, all 330 billion americans, what is the best course to take? just take it. none of this squabbling. get together, fol
of six attending. vice president biden, harry reid, house minority leader nancy pelosi, mitch mcconnell and john boehner representing the republicans. brianna keilar is live from washington. is anybody optimistic that a deal could be done today around a table? >> i will tell you the optimism is sort of sinking. senate majority leader harry reid said he doesn't see how it can get done by january 1st. we heard from president obama before he left from his vacation that he was optimistic. logistically the white house will tell you it's possible. when you listen to what you're hearing some of these congressional leaders say, there's a lot of posturing laying blame to the other side if we do go over the cliff. take a listen. >> republicans are not about to write a blank check for anything senate democrats put forward because we find ourselves at the edge of the cliff. >> we are here in washington working while the members of the house of representatives are out watching movies, watching their kids play soccer, basketball, doing all kinds of things. they should be here. >> now, house sp
. and then i'm told that mitch mcconnell and harry reid, the democratic leader in the senate jumped in before john boehner really got a chance to fully respond and say, look, we will take the ball and try to pass a bipartisan bill in the senate. the president responded by saying i will give you a day or two but we're running out of time. if you don't get it done in the senate. i want an up or down vote. then he came out and addressed reporters in the briefing room it is clear that the president is only cautiously optimistic that this is going to take a look. take a listen. >> it if there are disagreements they sort through the disagreements. the notion that our elected leadership can't do the same thing is mind boggling to them. it needs to stop. i'm moderately optimistic that an agreement can be achieved. >> the president realizes after weeks of saying no they will get it done at the first time. they realize for the first time we may go off the cliff. harris. >> harris: they do call them experts for a reason the ones telling us this would be coming. >> plan a was basically the dramatic 4 tri
to see you. within the past hour, senate majority leader harry reid spoke on the floor. he really gave it to john boehner. he got pretty personal. >> he did. he really laid the blame at boehner's lap. talked about the fact that he was surprised that the house isn't even in session, which is true, but let's get real. the senate came back into session this morning. most importantly, he was very, very pessimistic about getting anything done before we reach that fiscal cliff. listen to what he said. >> the speaker just has a few d days left to change his mind, but i have to be very honest, mr. president. i don't know time wise how it can happen now. >> let me kind of lay out the state of play. i'll try to keep it out as much as possible. this is something everybody is focused on. the ball is in the senate's court right now. so what senator reid, who you saw earlier, and the president, what they are trying to figure out is whether or not they can craft what the president called a scaled-back bill, which is what he campaigned on. raising taxes for everybody making more than $250,000 a year a
are in the senate and it will be up to harry reid and mitch connell and the president to try to come to a compromise to avoid the tax hikes and spending cuts that go into effect on the first of the year. president obama had been working with house speaker john boehner and trying to get a big deal that dealt with tax reform and deficit reduction. that fell apart and talks have largely been stalled this entire time. there was a lost pressure to get something done. we have seen some of the impacts of the fiscal cliff. consumers saying they have been more cautious with their holiday spending because of the uncertainty in washington. economists warn it could get worse and the markets could be foiled if we go over the fiscal cliff. taxes will go up for the average american by about $2,000 and could put us back into a recession. >> which nobody wants to see. kristen welker in hawaii. the president is coming back, but they haven't gotten the 48 hour notice. they are very much out there in play. thank you very much for joining us. appreciate it. when the senate returns tomorrow morning, there will be a new e
. they want to see what kind of bill harry reid brings forward on the floor. he is looking at republican leader mitch mcconnell to say what are you willing to accept? so here we are. there is blame game going on. there is lot of maneuvering still. bottom line we'll probably meet this weekend heading up to the fiscal cliff and we'll see what the final offer is to see if they can push it across the finish line. gregg: mike, we're getting word the president has nod no meaningful conversation with anybody own capitol hill, especially john boehner and yet we do hear, that, you know, the seeds have been talking. that staffers have actually been negotiating. what do you hear? >> reporter: that's right. we heard there have been ongoing discussions, taking place throughout the christmas holiday but at this point republicans are saying they took a beating, if you will, trying to lead in the house, a deal that did not go very far. so they're saying, okay, harry reid, senate democrats, see what you can do, see what you put forward and see if it is good enough to possibly pass both the senate and the
leader harry reid is ready to introduce legislation that would avert the fiscal cliff, but only if he gets assurances from republican leaders that they won't try to block it. that standoff is creating some tension on capitol hill that spilled on to the senate floor today. >> the senate will come to order. >> reporter: in the normally genteel senate, leader reid unleashed a tirade today about house speaker john boehner, accusing him of running a dictatorship in the house. >> speaker boehner is not willing to negotiate. we have not heard a word from leader mcconnell. nothing is happening. >> reporter: mitch mcconnell, the top republican in the senate, said it's reid who hasn't reached out for weeks. >> the phone never rang. and so now here we are, five days from the new year, and we might finally start talking. >> reporter: but talking about what? so far, reid has not introduced the scaled-down bill he was reportedly working on over the christmas holiday. sources say that bill would extend the bush-era tax cuts for americans making less than $250,000 a year. with the clock ticking, reid
unfortunately by the right wing. >> that leaves it up to harry reid and the rest of the senate to find a solution. aides say the plan would avoid tax increases and would eliminate some big spending cuts and restore unemployment benefits. >> you are likely to see a two- step process. dealing with the immediate dynamics so you can set up a situation where you can do with the larger situation. >> without a deal, bush-era tax cuts will expire on january 1. congress set up the deadline hoping it would force a compromise. so for that has backfired. also flying will be brian schatz. he will be replacing daniel inouye and will likely be sworn in later today. danielle leigh, wbal-tv 11 news. >> another day and another standoff. -- we're moving on to another story. police are searching for a suspect in connection with an assault in randallstown. a man has been pistol whipped and was treated at a hospital. a boy remains in critical condition after a car crash. police say the boy was in the front passenger seat that struck a parked tow truck appeared the driver had been drinking and was drowsy. >>
? basically the ball is in the senate's court? >> all you have to do is look at what harry reid, the leader of the senate has been saying from day one. every time that speaker boehner put forth a common-sense plan to fix this problem, harry reid would say, right off the bat it is doa, dead on arrival. not one thing that speaker boehner proposed that reid said, oh, we can work with that. it's about scoring political points. the american people are tired of all of us, i understand that. we just make used car salesmen look good. that's the only group is below us. but we've got to get our act together, and prove to the american people that we can regain the trust that they once had in us and get the job done. and as you say, not kick the can down the road. they want to us work this out. i hope we do. >> let's talk about something a little more bright. the former marine stuck in mexico. if you don't know the story, he was basically trying to go on a surfing trip. an old winnebago and a bunch of surf boards and some sort of antique, torn apart gun that he wanted to use to hunt rabbits and birds.
. the president, vice president biden, senate majority leader harry reid and house minority leader nancy pelosi on the democratic side. house speaker john boehner, mitch mcconnell representing the republicans. brianna keilar live from washington. what do we expect to happen today? any new offers from the president or house speaker? >> we don't know. right now, all eyes on the senate to see what senate majority leader harry reid can cobble together to get some republican support. technically, it's still possible to come to an agreement. that said, politically is a different story, and the prospects for coming to a deal are starting to dim. right now, we're hearing a whole lot of the blame game. a lot of public posturing from both sides as they prepare for the possibility of going over the cliff. let's listen to harry reid. >> we are here in washington working while members of the house of representatives are out watching movies and watching their kids play soccer and basketball and doing all kinds of things. they should be here. >> now, the speaker of the house, john boehner, sort of retorting t
for joining us. the reason i cut that short. can you get that shot, harry reid just left the white house as well. thank you, sir. >> thank you. >>> meeting over lawmakers not take to the cameras. that's what it is. a bad sign likely. we'll hear live from the white house when we come up. she keeps you guessing. it's part of what you love about her. but your erectile dysfunction - you know, that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess with cialis. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, seek immediate
pelosi, john boehner, mitch mcconnell and harry reid to the white house this afternoon for a "fiscal cliff" summit. >> here we are five days from the new year, and we might finally start talking. >> reporter: today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chambers of congress. >> i don't know time-wise how it can happen now. >> reporter: under senate rules the only way a bill could make its way through the procedure hurdles in time is if every senator agrees not to slow the progress. the house will be back here sunday night giving them just more than 24 hours to vote on any bill the senate works out. outside the beltway, carlino will be watching. >> everybody's kind of in a wait-and-see and fingers crossed perspective right now. >> reporter: since 1930, this is only the fifth time congress has worked after christmas. tara mergener for cbs news, washington. >>> today's meeting will be the first time president obama and all four leaders of the house and senate have met in person since no
and they are scattered throughout the country and taxes are going up on january 1st. let's listen to harry reid. he is not happy about the house and being away. he is the top senate democrat. >> we are here in washington working. we have the house of representatives out watching movies and watching their kids play soccer and basketball and doing all kinds of things. they should be here. >> here's a reality. reid said it's beginning to look to him as though we will plunge over the cliff come tuesday. they are keeping an eye on washington to see what develops. since it looks as though we are headed for higher taxes, i want to bring in terry savage, a personal finance expert for the chicago sun times. terry, let's walk through the higher taxes. we heard little class families are likely to lose $2,000 a year. you break it down this way for single earners making $85,000 a year if their take home pay is $2500 every two weeks. when the higher taxes kick in, they will see their pay go down $120. that's not a little. we are taking a major hit. >> this is big money. almost $400 a month. when you add up a cou
-called fiscal cliff. after a day of intense talks, senate majority leader, harry reid said there will not be a deal tonight. >> there is a distance between the two sides, tpheg orbingiations continue. >> if republicans and democrats can not strike a deal, taxes will go up for almost every american, automatic cuts will kick in and millions will loose unemployment benefits. >> i want everyone to know i am will willing to get this done but i need a dance partner. >> they quickly cut the deficit by slowing the growth of social security but the senate says there is a little bit of movement when they are compromising which americans should should get ready to pay a higher tax rate. >> reporter: in an unusual move republicans here on capitol hill called on the nation's number 2 democrat, vice president joe biden, to help in negotiations, this as the white house puts the blame on the impasse on the gop. >> they say the biggest priority is making sure we deal with the deficit in a serious way. the way they are behaving is the only priority is making sure tax breaks for the wealthie
in. senate majority leader harry reid has a plan to let tax cuts expire for households making more than $250,000 a year along with short-term spending cuts instead of the long-term cuts that would happen if there is nodule. >> the american people are waiting for the ball to drop but it's not going to be a good drop because americans' taxes are approaching the wrong direction. >> reporter: negotiations between president obama and house republican leaders stalled last week. the house is now leaving it up to the democratic-controlled senate to solve the problem before the new year deadline. in addition to the "fiscal cliff," treasury secretary timothy geithner warned congress that the u.s. is close to hitting its debt limit of $16.4 trillion. geithner saved the government will take steps to allow more burrough after december 31. danielle nottingham, cbs news, washington. >>> let's look now at the markets. stocks fell sharply by 55 and change. the drop is attributed to consumer confidence falling to the lowest level since august. >>> the storm that moved across the country pushing nort
it up to majority leader harry reid and the rest of the senate to find a possible solution. aides say reid's plan would avoid tax increases for people making less than $250,000, eliminate big spends cut and restore unemployment benefits. >> i think you're likely to see a two-step process here. one sort of dealing with the immediate dynamic so you can deal with the larger situation. >> reporter: without a deal, bush era tax cuts will expire january 1st and deep spending cuts will set in. congress set up the deadline hoping it would force a compromise. so far, that's backfired. also flying back on air force one is hawaii lieutenant governor brian schatz. he is replacing the late senator from hawaii, senator inouye. he'll likely be sworn in later today. schatz tweeted he's looking forward to supporting the president's agenda. reporting live in washington, i'm danielle leigh. >>> treasury secretary tim geithner is adding to the pressure saying the treasury may not be able to pay its bill on monday. that could lead to a credit downgrade. in his letter, geithner proposes a series of measure
of the democrats did. >> the little smirks and all that, but the fact is he went in there superseding harry reid who wasn't getting anything done. at least something happened. people wanted to see some sort of action. they wanted to know their congressmen who went home for the break would actually do something. >> here's mitch mcconnell on how this thing went together. he doesn't like the way it happened either but it's still done. >> shouldn't have taken us this long to come to an agreement, and this shouldn't be the model for how we do things around here. i know i can speak for my entire conference when i say we don't think taxes should be going up on anyone, but we all knew that if we did nothing, they would be going up on everyone today. each of us could spend the rest of the week discussing what a perfect solution would have looked like. but the end result would have been the largest tax increase in american history. so it took an imperfect solution to prevent our constituents from a very real financial pain. >> as we mentioned at the outset, the final vote in the senate -- remember, it sti
, was senator mitch mcconnell and here we have the majority leader in the senate, harry reid. let's listen in for a second. >> the house has reported by the press and we all know, one of the plans didn't have a name, it wasn't plan b. i don't know which plan it was because they've had a number over there. but this plan was to show the american people that the $250,000 ceiling on raising taxes wouldn't pass in the house. why didn't they have that vote? because it would have passed. they wanted to kill it. the speaker wanted to show everybody that it wouldn't pass the house. but he couldn't bring it up for vote because it wouldn't pass. republicans -- a myriad of republicans think it's the fair thing to do and of course every democrat would vote for that. the republican leader finds himself frustrated that the president has called on him to help address the fiscal cliff. he's upset because, quote, the phone never rang. he complains that i have not passed the resolution to pass the fiscal cliff but he's in error. we all know that in july of this year we passed in the senate the relief that wo
these prevent it, in control of whether or not your taxes go up come new year's day. harry reid, minority leader mitch mcconnell, house speaker john boehner and house democratic leader nancy pelosi met at the white house yesterday afternoon with the president and vice president. here's where things stand right now. the senate leaders are meeting aiming to avoid tax hikes. and they may vote on a deal sunday or perhaps on monday. jessica yellin is our chief white house correspondent. lisa day jar dayne is on capitol hill. the president used his bully pulpit to reinforce the idea that senators need to get busy. so let's listen. >> the american people are watching what we do here. obviously, their patience is already thin. this is deja vu all over again. america wonders why it is that in this town for some reason, you can't get stuff done in an organized timetable, why everything always has to wait till the last minute. we're now at the last minute. and the american people are not going to have any patience for a politically self-inflicted wound to our economy. not right now. >> so jessica, you were
and harry reid. republicans mitch mcconnell and john boehner. those four members of congress are expected to make the drive from the capital, which you see on the right, down pennsylvania avenue, to the white house, there on the left. and we expect them to enter through a side door on the west side of the mansion. that's the entrance right there. and they'll meet with the president. in the oval office. beginning, we're told, at 3:00 p.m., less than one hour from now. and just four days ahead of the so-called fiscal cliff. so a very big moment in the nation's capital. and to walk us through what might happen we turn to jessica yellin, a chief white house correspondent. jessica, we said up front, it is a long shot, give us a best case scenario. >> reporter: the best case scenario would be that all the leaders walk out of this meeting and say they have a deal. the two senators say they can bring it to a vote, and none of their members will filibuster it. house speaker john boehner says he will bring it to the house floor for a vote before new year's eve and house minority leader nancy pelosi
tomorrow afternoon. host: both majority leader harry reid and mitch mcconnell both expressed optimism after the meeting with the president. what is the basis of their optimism? is this a sign we might be one step, two steps, through step closer to a deal? caller: it does appear we are a step closer to a deal. they are talking about doing is extraordinarily popular stuff. except for the big marquee item, which is letting taxes rise on the wealthy. the rest of the stuff they are looking at doing the stuff they do all the time. it is extending an expiring tax policies. they know the benefit businesses. extent college tuition credits. there are looking at protecting people from the alternative minimum tax. it is all very urgent stuff that needs to be done. there are only two remotely controversial pieces of this, that is what to do with the estate tax and to how to define the wealthy people whose taxes are going to go up. the rest of it is, basically protecting people from tax hikes. i guess extending unemployment benefits and sometimes controversial for the republicans. it appears to have agre
from its christmas vacation to work on a deal today. sources tell us majority leader harry reid will be pushing a scaled back version of the fiscal cliff package that president obama laid out last week. it moved the tax hike needle to $400,000 per household. no word yet on when the house might come back with time ticking away. democrats are hoping that a scaled back plan could get through the house, senate and white house before that big ball drops on 2013. that would be sometime on december 30th or even on new years eve. we want to bring in jonathan allen. he's a senior national correspondent for politico. the top headline on politico is fiscal cliff deal increasingly unlikely. i think a lot of people are feeling that pessimism right now. what are you hearing? >> well, i think what you've got here, alena, is a nash equilibrium to borrow from economic theory and game theory. each of the players believe they are pursuing their optimal strategies given the strategies of the other players and there's no reason to change it. i think as observers of this, the american public, you can
leader harry reid in the "new york times, returning to the u.s. capitol. his shadow. what's the relationship between harry reid and mitch mcconnell? guest: it's hard to tell. the rhetoric on the senate floor can be pretty tough. they call each other my dear friend whenever you want them on the c-span channels, but i think they both are in a frustrating position. senator harry reid does not have more than 60 members, so we cannot block a filibuster but senator mcconnell is adept at applying in cases where he'd want to block legislation. but i think they both have respect for each other's legislative skills and they have proven in the past that when they need to cut a deal, but can cut a deal and bring their party's members with them. host: john mccain writes a big budget deal is still worth doing. he points out to the history of some of these agreements, most notably with ronald reagan in the 1980's and president bush in 1991 in which republicans agreed to spending cuts that never happened while raising taxes. guest: that's right. there's a little confusion about how much s
at the white house the president meets with all the key congressional leaders, top democrats harry reid and nancy pelosi leading republicans mitch mcconnell and john boehner. no deal can be reached in past without their cooperation. with the meeting comes a glimmer of hope. in the past all the ifisical cliff talks meetings like this have been the least productive of all. whether he meant to or not the senate majority leader may have spoken for a nation exhausted by seemingly endless fiscal cliff negotiations. >> what's going on here? >> reporter: what indeed. president obama returned to the white house in a grim mood. he met with no congressional leaders and said nothing about his efforts to avert the fiscal cliff, talks continue between senior white house and congressional staff, but that's been true throughout this entire saga. with the deadline looming there were dire predictions. >> come the first of this year americans will have less income than they have today. >> reporter: and recriminations. >> now republicans have bent over backwards. we stepped way, way ou
regularly with senate majority leader harry reid and vice president joe biden is now in it. those two get along much better than mcconnell gets along with the president. over the last 24 hours the president has given some ground for higher levels for income taxes and estate taxes but is also along with that demanded much more in government spending than republicans are comfortable with. this is part of the impasse. and one of the things the administration wants to do is find some across the board spending cuts and cannes. ed government contracted due to take effect starting this week. >> all right. major garrett, thank you. wyoming senator john barrassow is with us. >> thank you for having me. >> if there's a deal today, why would you vote to extend tax cuts if there are no new spending cuts? >> that's the exact thing. the real problem is spending. if you want to raise taxes as the president promised in the campaign he wanted to do that, it was to pay down on the deficit. there's no evidence of any of that and that is a major sticking point. so the democrats are divided on tax rates, on t
. peter: everyone looking to leader harry reid and the president for plan c. they were discussing next steps to advert the cliff before the holiday on monday. no update today from the white house. a spokesperson for senator reid is saying "nothing to report. no conversations with republicans let." the spokesperson says "no outreach from any democrats. we are waiting on senate democrats." it looks right now that the cliff remains inside. lori: i heard you talking to dennis kneale earlier. the house generally has to post something for three days. realistically, right, everyone will come back tomorrow, they probably will not have anything by friday. peter: if they do something by friday, the house could vote on something by monday, new year's eve. the weekend could count. absolutely. they can actually do whatever they want. they can vote to waive the rules. yes, they have this three-day rule for making sure all members can read any legislation, any proposal that comes over from the senate. under the constitution, the house sets its own rules. lori: these goucher should have centered on ta
's plan, and will republican leaders let that happen? >> well, okay. so senate majority leader harry reid, a democrat, has crafted an alternative proposal that he has -- saying he will put -- if the negotiations i just described fail and if the senators cannot come to a bipartisan agreement, then the democratic leader is going to put on the floor a democratic proposal that would extend tax rates for households that make $250,000 and less. hatch the alternative minimum tax and extend unemployment insurance. so that's a democratic proposal. the problem with that is, you can expect a republican is likely to filibuster it or block it in some way so it's not likely to go anywhere. and it's not likely to be put on the house floor for a vote by republicans in the house or democrats in the house. so you can assume it's a nonstarter. it's more of the political proposal than a real proposal. bottom line. there's one good thing in washington. or two. you're there. and if we can get a shot of the capitol back, at least there's a nice dusk happening it's beautiful. let's hope that helps the mood there
obama meets at the white house with senate majority leader harry reid, house minority leader nancy pelosi, senate minority leader mitch mcconnell and house speaker john boehner. they have only four days to reach an agreement or the u.s. economy will go off the so- called "fiscal cliff." that's when automatic spending increases and cuts would take effect. reaching a deal won't be easy because both sides are involved in a high stakes political blame game. >> we are here in washington working while the members of the house of representatives are out watching movies and watching the kids play soccer and basketball and doing all kinds of things. they should be here. >> i told the president we would be happy to look at wah he proposes but the truth is we are coming up against a hard deadline and as i said this is a conversation we should have had months ago. >> reporter: democrats want to extend the bush-era tax cuts to everyone except those americans making $250,000 or more a year. many republicans are against any tax increases. most americans just want something to be done. >> people a
. >> thank you, luke. >> so we know now the ball is in the senate's court, emphasis is now on harry reid and mitch mcconnell. seems the house is not in session. johnny isakson, your colleague from georgia said congress should pass the $250,000 and below deal because that's what's going to happen afterwards. do you think that should happen? >> i do not. i think $250,000 is too low a threshold. a lot of working people who are couples would exceed that. however, i talked to some of my democratic colleagues and they are saying maybe in the $400,000 or $500,000 category we could set a benchmark. i do think it is essential that we start talking about what amount can be passed on a bipartisan basis, because, you know, i'm one who believes you shouldn't tax anyone right now. i would have supported plan b. i think that we've got to come to some terms with the impact that this is going to have and remember the other parts of this, making the child tax credit permanent, the marriage penalty relief permanent. these are things that go with any kind of a threshold that we hopefully could agree on. >>
on a deal. now, sources tell us majority leader harry reid will push a scaled-back version of the fiscal cliff package that president obama laid out on friday, which moved the tax hike needle to $400,000. no word yet on when the house of representatives might come back, but democrats say the only hope we have of something getting through the house, the senate and the white house may be a very last-minute deal. cnn radio's lisa is following developments on capitol hill right now. the ball is in senate majority leader harry reid's court it would seem right now, lisa. >> that's right. harry reid and the senate seem to be the only game in town right now with the senate returning today. we also know from sources, ali, that over this christmas break there were no conversations between the president and top-level republicans. sources from both parties are telling us they are watching the senate, especially the democratic leadership in the senate. we also know yesterday house republicans came out with a statement saying that he will act only after the u.s. senate acts. we're not sure what the se
. >> reporter: senate majority leader, harry reid, lashed out at house speaker, john boehner, accusing him of running a dictatorship. >> john boehner seems to care more about his leadership than keeping the country on a secure footing. >> republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. that wouldn't be fair to the american people. >> reporter: president obama flew home early from his hawaii vacation yesterday. speaker boehner called the house back into town for an unusual sunday session. but members of congress understand the 11th-hour actions may not be enough to appease the public. >> the american people have a right to be very upset with this congress. >> reporter: the fiscal cliff would bring massive tax increases and deep spending cuts. the treasury department would have trouble paying its bills. many economists worry the financial woes would plunge the u.s. back into a recession. just one possible effect of the fiscal cliff. milk prices could spike $2 or $3 a gallon, because farm progra
the fiscal cliff, which is a sure sign that the senate majority leader, harry reid, a democrat, is working on crafting legislation on his own that he would essentially dare house and senate republicans to oppose. his legislation would likely extend the bush-era tax cuts for households making less than 250,000 a year. it might also include enough short-term spending cuts to temporarily offset for, say, six or eight months, the indiscriminate across-the-board spending cuts that are set to go into effect on january 1. yis bill would also try to tie up some year-end loose ends by extending long-term unemployment benefits, patching the alternative minimum tax that duds up hitting so many middle class families, and preventing a mbg scheduled drop-off in thdicare reimbursement rates for doctors at the start of the enar. eyre in hawaii, the president has had a low-key christmas with family and friends, but he will omoreaving this state as early as tomorrow to head back to grshington d.c. to put pressure on congress to pass that democratic plan. jim? >> any indications, nancy, where thewhether the
." the pressure is increasing in washington. senate majority leader harry reid was reportedly on capitol hill at christmas working on a scaled-down plan to avoid tax hikes for all but the wealthiest americans. his plan would also include short-term spending cuts instead of long-term deals that have been sought. president obama will cut short his hawaiian vacation around return to washington today to take part in those negotiations. christmas day the president and first lady met with servicemembers and families. the president told marines he was grateful for their service and posed for pictures. >>> more bay area headlines. one of santa's helpers put in a little overtime on christmas but instead of a sleigh and reindeer, san jose postal worker nancy ray used this a mail truck. ray is carrying on a decades old tradition of delivering packages to people on christmas. this is the third year ray has put her sant suit. she started working in the san jose post office 20 years ago and said this is a job she always wanted. >> some books, two things of presents. >> a relatively new christmas tradition
leader harry reid and the rest of the senate to find a passable solution. aides say reid's plan would avoid tax increases for people making less than $250,000, eliminate some big spending cuts and restore unemployment benefits. >> i think you're likely to see a two-step process here, one sort of dealing with the immediate dynamics so that you could in fact set up a situation where you could deal with the larger situation. >> reporter: without a deal, bush-era tax cuts will expire january 1st and deep spending cuts will set in. congress set up the deadline, hoping it would force a compromise. so far, that's backfired. also flying back on air force one is lieutenant governor brian schatz and will likely be sworn in later today. just before taking off, he tweeted that he's looking forward to supporting the president's agenda. reporting live in washington, i'm dan yeielle leigh. mara, back to you. >> thank you. >>> tim geithner is adding to the pressure to get the office calf cliff deal done. in an open letter wednesday, he warned the federal government may not be able to pay its bills on
majority leader harry reid, house minority leader nancy pelosi, senate minority leader mitch mcconnell, and house speaker john boehner. have four dates to reach an agreement, but the u.s. economy would go off a fiscal cliff. that's when automatic spending increases and spending cuts would take effect. -- a deal will not be easy, because both sides are involved in a high-stakes political blame game. >> we are here in washington working while the members of the house of representatives are out watching movies and watching the kids play soccer and basketball and doing all kinds of things. they should be here. >> i told the president we would be happy to look at whatever he proposes. the truth is we are coming up against a hard deadline. this is a conversation we should have had months ago. clerk democrats want to extend bush-era tax cuts to everyone except those americans making to a hundred $50,000 or more per year. many republicans are against any tax increases. -- democrats want to extend bush-era tax cuts to everyone except those americans making $250,000 per year. >> d.c. mayor vinc
. >> majority leader harry reid and minority leader mitch mcconnell say they're confident they come to a compromise but they have to sell it to john boehner and fellow republicans before the deadline. >> president obama will be david gregory's exclusive guest on "meet the press" later this morning. you can watch his interview at 10:00 a.m. former president george h.w. bush is out of intensive care and said to be improving this morning. he is in a regular room at houston methodist hospital. a family spokesperson says the family thanks everyone for their prayers and good wishes. he is being treated for a cough. a lawyer for one of the survivors of the newtown school massacre says the state of connecticut didn't do enough to keep kids safe and wants to sue for $100 million. the attorney says the state failed to provide a safe setting for his clintd, an unidentified 6-year-old girl. he says after hearing gunfire, she was left with emotional scars. to howard county where police say they've cracked a string of burglaries that hit homes in columbia and ellicott city. nadia ramdass has the
on firm financial footing. >> harris: a spokesman for john boehner fired back "senator reid should talk less and legislate more." and senate minority leader mcconnell saying we should have worked all this out months ago. >> and republicans aren't about to write a blank check or anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> harris: tonight, that is exactly where we stand. at the edge of a cliff throwing blame for how you we got here. a lot of finger pointing and no answers as i said and just days remaining until tax increases and spending cuts all kick in and we all feel the pain. mike emanuel live with the news for us tonight on capitol hill. top democrats seem to be suggesting they cannot cut a deal without republican help. >> well, harris, that is right. and so they are asking what it will take to at least get some republican support. they say time is so critical. they cannot just roll out new legislation only to have the republicans reject it. we know president obama called the top four congressional leaders last night on his way b
. the senate convenes later today and senate majority leader harry reid told members to be prepared to address fiscal cliff issues through the weekend. reid is working on his own plan to get lawmakers to come together before the end of the year deadline. that plan would likely include letting the bush tax cuts expire for households making more than $250,000 a year and short term spending cuts instead of the massive long-term cuts that would happen if there is no deal. after our wednesday conference call, house republican leaders issued a statement saying they were waiting for the democratic controlled senate. the house will take this action on whatever the senate can pass they said but the senate first must act. in a sign of public frustration over the lack of a deal the coffee giant starbucks is asking employees in approximately 120 washington area cafes to write the words "come together" on cups for drink orders. >> we just wanted to have a subtle message of coming together and everyone being united. >> reporter: now a new problem making the fiscal cliff talks even
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